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Egypt invites Canadian investments to boost industrial growth

Egypt aims to bolster cooperation with Canada in sectors such as renewable energy, automotive, and port operations.

Egypt invites Canadian investments to boost industrial growth

Egypt aims to bolster cooperation with Canada in sectors such as renewable energy, automotive, and port operations. Offering significant investment opportunities, Egypt invites Canadian companies to contribute to its growing industrial landscape.

Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry held talks with Canada’s Ambassador to Cairo, Ulrik Shannon, to explore avenues for strengthening collaboration in the fields of industry and transport. The discussions highlighted substantial potential for partnerships in the automotive and feeder industries, as well as opportunities in renewable energy, particularly wind and solar power.

The minister emphasized that these efforts align with Egypt’s comprehensive plans to establish itself as a regional industrial hub. In line with directives from President Abdel Fattah al-Sisi, the minister reiterated Egypt’s openness to enhancing partnerships with both domestic and international private sectors. He also highlighted the country’s advantages, including a skilled workforce, robust transportation networks, and well-established export infrastructure.

The minister extended an invitation to Canadian companies to invest in Egypt, assuring them of the Ministry’s support through streamlined and efficient procedures. He also noted existing collaborations with global firms such as Hatchion International, Eurogate, and CMA-CGM, which are involved in key projects across Egyptian ports. Both sides agreed to intensify meetings to broaden the scope of cooperation and work towards localizing industries in Egypt through Canadian investments.

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